The beginning of the year is perfect time to, not only make New Year resolutions, but to also do some digital marketing analysis to your business.
Yes, that’s right – it’s time to have a look at your website’s statistics and try to understand what can be improved or added.
You might not be using Google Analytics daily to check its performance, and you might even have a dedicated employee in charge of this type of work but, even so, it’s a good idea to look through your data quarterly or at least annually to better understand how things are going.
We’ve prepared some ideas for you of where to get started in your digital marketing analysis.
Analytics has, of course, a lot of info, and you can go as deep in your analysis as you wish, but we just want to give you a starting point. So, open your Google Analytics account and let’s get to it!
- Check which marketing channels are working very well for your business and which are underperforming.
Go to Acquisition–Overview. In what the time period is concerned, select the year 2021 compared with 2020. Now you can see all the ways that people found your website. See which channels are bringing in more leads (conversions columns), and which channels brought more visitors that year compared to the previous one. And then think about how much you are investing in each one of those channels. Are you spending most of your marketing budget on something that does not bring enough leads? Is there a marketing channel that receives very little investment, but brings more sales? Which channel brings conversions with no immediate monetary value (for example, newsletter subscriptions) and which brings mostly sales? Which channels help you sell your most expensive and elaborate products, and which results in sales of products you might not want to focus on right now?
To be able to really compare the performance of all the channels you may want to calculate the Return On Advertising Spend (ROAS) for each channel. It is pretty easy:
ROAS = Gross Revenue from Ad campaign / Cost of Ad Campaign.
For example, if you spent € 500 on a campaign that generated a revenue of € 2000, then your ROAS is € 2000 /€ 500 = € 4 (or 4:1, or 400%, if you like); which simply means that for every € 1 that you invest in advertising it generates € 4 of revenue. Calculate this for each traffic channel and you will be able to really compare their performance.
And after this type of digital marketing analysis, you might want to rethink your budgets for 2022.
- Which pages of your website are performing better?
Go to Behaviour–Site Content–All Pages. Which pages receive more traffic? Which pages are more interesting to users? Are these about the product or service you want to promote the most? Which pages are underperforming (see bounce rate and exit rate). You want to make sure that the popular pages of your website always have fresh content. And you don’t want the page that is seen more often to have any outdated information. Can you improve those pages even more? Is there more useful information to add or can you maybe create some infographics? Are those pages easily accessible on the website, or can you simplify it by changing the internal links structure? And as for underperforming pages, what can you do to improve user experience on those pages?
- Check if all the ways to convert on your website are performing well.
Go to Goals–Overview. You can see all the conversion actions on the website and also conversion completion locations. Are you getting a lot of one type of conversion and almost none of the other(s)? Is that justified? Or maybe, for instance, people are ignoring your contact form and prefer to send an e-mail, because said contact form has too many mandatory questions to fill in? Can you improve user experience? Do you have a page where most of the conversions happen? Analyse why this page in particular. What can you learn from it in order to improve the conversion rate on your other pages? If you have a product/ service that you want to promote/ sell more than others, check if the ways to buy/ contact you are easy enough for the user.
These are just some initial ideas for your New Year’s digital marketing analysis. Start here and this will give you some useful insights for your 2022 marketing study and planning.